File #: 20-2419    Version: 1 Name: VETERANS SERVICES USA CORP Blue Island Parking Lease for Health Clinic
Type: Lease Agreement Status: Approved
File created: 5/3/2020 In control: Board of Commissioners
On agenda: 5/21/2020 Final action: 5/21/2020
Title: PROPOSED LEASE AGREEMENT Department: Department of Real Estate Management Request: To approve a new Sublease Agreement Landlord: VETERANS SERVICES USA CORP Tenant: County of Cook Location: 12921 S. Western Avenue in Blue Island, Illinois 60406 Term/Extension Period: 6/1/2020 - 5/31/2030 Space Occupied: Approximately 94 parking spaces Monthly Rent: $750.00 with 3% annual escalations Fiscal Impact: FY2020 $4,500.00; FY2021-FY2030 $98,674.91; Total Fiscal Impact is $103,174.91 over first ten-year term. Accounts: 41215.4893.18957.550130 Option to Renew: Two, ten-year renewal options Termination: By either party with 12-months written notice Utilities Included: NA Summary/Notes: Additional parking is necessary for the Cook County Health Clinic located at 12757 S. Western Avenue. Approval is recommended.
Indexes: (Inactive) JESSICA CAFFREY, Director, Real Estate Management Division

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PROPOSED LEASE AGREEMENT

 

Department:  Department of Real Estate Management

 

Request:  To approve a new Sublease Agreement

 

Landlord:  VETERANS SERVICES USA CORP

 

Tenant:  County of Cook

 

Location: 12921 S. Western Avenue in Blue Island, Illinois 60406 

 

Term/Extension Period:  6/1/2020 - 5/31/2030

 

Space Occupied:  Approximately 94 parking spaces 

 

Monthly Rent:  $750.00 with 3% annual escalations

 

Fiscal Impact: FY2020 $4,500.00; FY2021-FY2030 $98,674.91; Total Fiscal Impact is $103,174.91 over first ten-year term.

 

Accounts:  41215.4893.18957.550130

 

Option to Renew:  Two, ten-year renewal options 

 

Termination:  By either party with 12-months written notice 

 

Utilities Included:  NA

 

Summary/Notes:  Additional parking is necessary for the Cook County Health Clinic located at 12757 S. Western Avenue.  Approval is recommended.

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